Object of the Bill
The object of this Bill is to amend the Income Tax Act, Cap. 340 to redefine beneficial owner; to revise the tax rate applicable to individuals and companies for purposes of rental income; to provide for a formular for deductible expenses on rental income; to provide for incentives to manufacturers; to define the date for submitting applications for tax refund; to provide for the due date of the payment of income tax; to discontinue the concurrent deduction of initial allowance and deductions on depreciation of assets.
Document
0108Income_Tax_(Amendment)_Bill,_2021.pdf
The Income Tax (Amendment) Bill, 2021
Sponsored By Hon. Matia Kasaija (Minister of Finance, Planning and Economic Development)
Committee: The Committee on Finance, Planning and Economic Development
Start
First Reading/Committee
Bill is read for the first time on the floor of Parliament
Second Reading
Bill is discussed for the second time on the floor of Parliament.
Third Reading
Parliament has passed the Bill.
Presentation/Waiting Assent
Bill is presented to the President and awaits assent.
Assented by President
Bill is now an Act of Parliament.
End
Bill passed on 2021-12-20
Bill is now an Act of Parliament.
Bill Withdrawn on